I came across Auction.com on the internet and was wondering if anyone has had any success finding profitable deals there.
I checked out a couple of properties and was impressed to see the Title information was provided. I wonder if the Title information is complete and accurately dependable?
Any comments will be appreciated.
I'm a gold vip member at auction.com. Most of my acquisitions are profitable - just be careful as most have had serious issues, such as grow-rooms in the house, non-working wells, etc.
The title information is provided on only a few of the properties. Most of the properties will sell with clear title, but some that are occupied will only sell via quick claim deed, which is speculative.
Also know that even if you see a property sold, just wait. It may come back on the next round.
Why does it come back on the next round? Is it because it did not actually sell the first time?
auction.com is really becoming a useless vehicle for me to buying homes.
As it is, they rarely have homes that allow you to bid on unless you can pay all cash. That right there limits my ability to purchase considerably. I'd guess one out of 10 in my area - if that - allow offers with financing.
Lately, the site has been adding sheriff sales listings. Makes no sense why they're doing that on their site. Maybe its some way for the houses to get more visibility so the bank that is foreclosing is paying for them to list it there in the hopes of getting more bidders at the county sheriff sale?
Needless to say, not only is the sheriff sale cash only, but you don't even get to look inside those homes. So now you're really just gambling......
If I were you, I would stick to hubzu.com and homesearch.com for the auctions. Most of their properties allow financing and most are available for showings - at least the auctions in the counties I'm interested in here in Illinois.
If you can do all cash and are ok with occupied homes where you're going to be responsible for getting out the occupant, then maybe auction.com is worth keeping tabs on. Otherwise, I wouldn't consider them a great place to find deals. Doesn't mean you won't find one every blue moon. And I would never tell anybody to write off any potential source. But I just don't think you're going to be able to find many there.